Beer Distributors' Gloom Deepens

February's decline in beer distsributors' purchasing outlook continued in March as the National Beer Wholesalers Association's Beer Purchasers' Index fell to 33 and the At-Risk inventory measure remained about 50. The combination of index readings – which is 21 points lower than the March 2024 reading of 67 – places the industry in contractionary territory for a second month of 2025.

• The craft index of 20 for March 2025 continues to signal contraction in this segment and is 15-points lower than the March 2024 reading of 35.
   
• The premium lights index fell to 40 for March 2025, 14-points lower than the March 2024 reading of 54.
   
• The premium regular index fell to 35 for March 2025, 14-points lower than the March 2024 reading of 49.
   
• The below premium segment for March 2025 at 45 is one-point lower than the March 2024 reading of 46.
   
• The FMB/seltzer reading for March 2025 of 40 is seven-points higher than the March 2024 reading of 33. The FMB segment is the only segment to post a higher reading in March 2025 compared to March 2024.
   
• Finally, the cider segment posted a March 2025 reading of 32 compared to 34 for March 2024.